Cielo condos floor plan. House prices have fallen. National housing sales rose 57% in May from the previous month, but house prices fell 2.6% from a year earlier.Please Visit: Cielo condos floor plan to Get Your VVIP Registration Today!
According to CREA, which represents 130000 real estate agents in Canada, second-hand housing transactions reached 26111 units in the month, down 40% from the same period last year and the lowest level since May 1996.
The pattern is the same for both GTA and warm regions: sales in GTA increased 53 per cent in May compared with April, but still fell 54 per cent compared with the same period last year. Vancouver is growing at a monthly rate of 32%, but down 44% from may 2019.
Generally speaking, April and May are very active months for housing transactions due to warmer weather, but the Canadian property market was hit in April by the COVID-19 epidemic, making it the worst month for sales in more than 30 years, said Shaun Cathcart, senior economist at CREA.
However, he said the situation improved in May, with a sharp increase in sales from April. “from the perspective of Canada as a whole, the market should be moving in the right direction,” he said. But to be honest, there is still a long way to go before the market recovers. ”
According to the CREA report, the national average house price in May was $494, 500, down 2.6% from a year earlier, although it varies widely from region to region.
Overall, prices in BC province have declined slightly since the beginning of the COVID outbreak, while the original downward trend in Alberta has accelerated. Compared with history, sales in grassland provinces other than Afghanistan are much better than those in other regions, and price trends have actually been relatively stable.
Prices in the Big Golden Horseshoe region of Ontario (Greater Golden Horseshoe), which have been rising rapidly, are now stagnant. In places such as Ottawa, Montreal and Moncton, prices seem to continue to climb, albeit at a slower pace.
Canadian house prices have been affected by the two biggest markets, and excluding GTA and the Greater Vancouver area, the average price will be reduced by $94, 000 to $401000.
However, according to the MLS Composite House Price Index (HPI), it fell only slightly year-on-year (- 0.08 per cent) and still rose 5.3 per cent month-on-month.